Company Background
New York Bay International Limited (NYBI) was founded in New York in 1986 by two former employees of Manufacturers Hanover Trust Bank. The aim was to enable international aid agencies and NGOs to obtain through one single intermediary, in an efficient and cost-effective manner, the local currencies needed to support their ongoing aid and development programmes in the emerging countries of the world. NYBI’s founders considered this market poorly served by the international banking community at the time, for whom the aid sector and its needs often appeared low on the priority list.
NYBI built a foreign exchange business with a network covering over 100 countries and working with more than 200 NGOs, UN agencies and bilateral aid agency clients, in addition to OECD embassies worldwide.
This FX business was sold to International Asset Holdings (IAH) in July 2004 and they remain the leading niche player in this field. NYBI shares the same offices and continues to work extremely closely with IAH who continue the business under the name INTL Global Currencies Limited.
NYBI’s focus is now on other core activities, including:
- implementing and managing debt-for-development conversion programmes (DCPs) to increase local currency yield
- delivery of cash in conflict zones and areas of humanitarian crisis
- trade finance in developing economies
NYBI is regulated in London by HM Customs and Excise as a Money Services Business (registration number 12124371) for money-laundering purposes which follows the same code of practice as recommended by the Financial Services Authority.
Company Information
New York Bay International Limited, registered in UK, company no. 3799331
Bankers
Lloyds TSB Bank, London
Royal Bank of Scotland, London
Bank of America, Maryland, USA
Auditor
Baker Tilly, London
Lawyers
Pinsent Masons, London
Peachey and Co., London
Address
Ground Floor, 8-9 Lovat Lane, Monument, London EC3R 8DW
Telephone: +44 (0) 20 7280 0620 Fax: +44 (0) 20 7280 0621
E-mail: info@nybi.co.uk
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